China aims to facilitate easier access for foreign nationals to work, study, and travel in China. The country’s commitment to wider opening-up and promoting mutual benefits creates a conducive environment for foreign businesses to thrive”, said Dr. Abid Qaiyum Suleri, executive director of the Sustainable Development Policy Institute (SDPI).
“The well-developed infrastructure and complete industrial system in China enhance its attractiveness to foreign companies and investors”, he told China Economic Net (CEN).
On March 5, the 2024 government work report was delivered during the Two Sessions, the yearly plenary meetings of China’s top legislature and top political advisory body. It sets the country’s GDP growth target at around 5% for 2024 and lays out the development goals for various sectors.
Shakeel Ramay, CEO of the Islamabad-based Asian Institute of Eco-civilization Research and Development told CEN reporter that one of the key areas of interest for foreign investors is the catalogue of encouraged foreign investment lists.
“China is moving well on this indicator, as the number of FI list increased to 1,474 items (519 in the national catalog and 955 in the regional catalog), increased by 19 percent from 1,235 items (480 in the national catalog and 755 in the regional catalog) in the 2020 version”, he said.
“China is also opening the financial sector and allowing foreign enterprises to benefit from the financing opportunities in China”, he stressed.
“The strength of the domestic market, mechanisms to support the dual circulation model, vast network of economies under BRI and many other initiatives will continue to bolster its economy and that in the region”, he analysed, adding, “A major driver of growth will be renewable energy and related industries and infrastructure. It will be supported by innovation- and technology-driven policies and government programs. In 2023, the huge investment of US$ 676 billion in energy transition drove the growth. I expect China will enhance investment as now it is approaching the end line of the 14th Five-Year Plan”.
Ali Farid Khwaja, Chairman of KASB Securities, a leading stock brokerage in Pakistan told CEN reporter the rising high-tech companies of China are empowering its economy and broadening the opportunities it offers.
“I have been covering global markets for the past twenty years. Early in my career, I used to cover the Telecom Equipment sector. I remember people laughing when they heard that some unknown companies ZTE and Huawei have ambitions to be the world’s top three. However, within three years they achieved this target. My experience has taught me not to doubt China’s capability in meeting targets. They take bold steps to achieve their goals”, he said.—APP
